Definition:
A cost-of-living crisis occurs when essential expenses rise faster than incomes, pushing more people toward or below subsistence levels.
Usage Context:
Used in media, political discourse, and economic analysis.
Critical Note:
Crises are often framed as temporary shocks. Structural causes such as wage stagnation and market concentration are downplayed.
Related Terms:
Economic Precarity, Working Poverty, Austerity, Affordability Threshold, Survival Class